07.17.24
Allianz Makes $1.6 Billion Offer for 51% of Income Insurance
by: Elffie Chew and Joyce Koh
Allianz has made an offer to acquire at least 51% of Singapore’s Income Insurance in a deal valued at about $1.6 billion. The planned acquisition will significantly strengthen Allianz’s presence in Singapore, the insurer said in a statement. Income Insurance was founded in 1970 and has about 1.7 million customers in Singapore. It is designated as one of the country’s four systemically important insurers.
Read the full article on Bloomberg